Labubu doll craze hits the Philadelphia region

Driving the news: Pop Mart — the official retailer of Labubu dolls — is opening its first brick-and-mortar shop in the region at Cherry Hill Mall.

• While an exact opening date hasn't been shared, a mall spokesperson tells Axios that the roughly 2,400-square-foot store is coming later this summer.

The intrigue: A Pop Mart vending machine in Cherry Hill Mall is already attracting Labubu hunters, who are posting their quests for the often-sold-out dolls on social media.

Catch up quick: Labubu is an elf-like character created by Hong Kong artist Kasing Lung. It gained a following through a 2019 collaboration with Chinese toy giant Pop Mart.

• It's sold in "blind boxes," meaning buyers don't know which figure they'll get, fueling a thrill-of-the-hunt resale culture.
• Rihanna, Kim Kardashian and David Beckham are among the celebrities helping drive the trend by displaying the dolls on their bags.

By the numbers: The retail price for standard Labubu figures that come in blind boxes ranges from $8.99 to $27.99.

• Larger Labubu plush dolls retail for $40 to $85, while limited editions and special collaborations typically start at $167.
• Resale and secondary prices are astronomically higher.

The bottom line: Good luck finding one. The Pop Mart website sells Labubu dolls and merchandise, but nearly all 131 items listed this week were out of stock when Axios checked.

• Authorized resellers sell real Labubu — including Amazon, which has a Pop Mart store, though inventory was nonexistent when Axios searched.